President Donald Trump's announcement of 30% tariffs on the European Union will have repercussions for companies and consumers on both sides of the Atlantic.

Tensions over trade are sending ripples through Europe’s automotive industry, and the effects are becoming increasingly visible. At ports across the continent, thousands of new cars sit idle, waiting to be shipped to the United States.

The EU as a whole has an annual trade surplus with the United States of $235.6 billion, according to the Bureau of Economic Analysis (BEA), which reports to the U.S. Department of Commerce. Only China has a higher amount. Ireland has the largest surplus among EU members, at $86.7 billion.

Upcoming Trade Tariffs Set to Impact US Economy in 2025 March 03, 2025 — 04:03 pm EST Written by Taylor Sohns MBA, CIMA®, CFP® for Due.com ->

Too Early to See Impact of US Tariffs on World Economy, IMF Head Says. By Reuters | Feb. 11, 2025. ... The AI industry continues to innovate and compete at a breakneck pace in the second half of 2025.

Brazilian planemaker Embraer reaffirmed its full-year delivery and financial outlook on Tuesday, saying U.S. tariffs so far had "limited impact," although its CEO added his voice to calls for a ...

President Trump said he plans to write to many nations setting a blanket unilateral tariff rate, which he said could be 10% or 15%. "We’ll have well over 150 countries that we’re just going to send a notice of payment out" detailing tariffs,